The BDC Reporter previews an important IIQ 2022 earnings release for a newly enlarged SLR Investment, discussing all the key moving parts involved.
Saratoga Investment has just reported IIQ 2022 results and we’ve learned about a new underperforming portfolio company. Here are the details re-published from the BDC Credit Reporter.
A day after the BDC Reporter previewed Saratoga Investment’s IIQ 2d022 results, we are comparing what we expected with what actually happened.
A finance company subsidiary of Owl Rock Capital makes an acquisition. We explore the consequences for the BDC and what transactions like these tell us about an evolving BDC sector.
We’ve learned more about Blackstone Secured Lending Fund following the IQ 2022 conference call, and after a close look at its huge portfolio. Is the new-ish public BDC recession ready ? We have a great deal to say on the subject.
Encouragingly for many BDCs the market for raising unsecured debt from institutional investors has re-opened of late. We review New Mountain Finance’s recent note issuance, but explain that this is a marathon not a sprint.
With a recession promised, we’re reviewing existing BDC portfolios from a credit standpoint all the more carefully. There have been recent developments at Apollo Investment – not all of them favorable – but the BDC Reporter comes away relatively optimistic from our credit deep dive.
We continue to expand and improve the BDC Fixed Income Table in light of changes in the debt market and the likelihood that publicly traded unsecured BDC debt will be with us for many years to come and may yet grow back in importance.
Not for the first time Great Elm Capital has raised additional equity in a Rights Offering. We analyze what the BDC’s metrics look like post-raise and what could happen to the dividend and asset coverage.
Horizon Technology Finance is back in what has been a moribund public market for unsecured medium term debt. We discuss the likely reasoning for the move and the implications for the sector as a whole.
The BDC Reporter annotates FS KKR Capital’s IQ 2022 earnings conference call, as the BDC announces ever higher earnings and distributions. We discuss what could go right and wrong, especially if we face a recession before long.
The BDC Reporter provides an update of what is happening in the public market for unsecured BDC debt. We discuss the mini rally underway and many other subjects as we update the BDC Fixed Income Table.
We undertake a deep/ dive into First Eagle Alternative Credit’s credit status as of IQ 2022 and find a number of weaknesses in a otherwise low-risk portfolio. Part of the BDC Reporter’s Credit Table.
The BDC Reporter is interviewed about the recent earnings season and what that might tell us about the future performance of the sector if a recession comes along.
First Eagle Alternative Credit had a so-so IQ 2022. This raised – once again – questions as to the future of this smaller BDC with a troubled past which has been working feverishly to set matters right.
The BDC Reporter has just updated the BDC Fixed Income Table with the departure of two public issues. We analyze how BDC public Baby Bonds have performed in 2022 to date and take a stab at what the rest of th year might bring.